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Confectionery giants ‘push up prices’

October 9th, 2010

Confectionery giants Nestle and Cadbury are increasing the recommended retail price of a number of their chocolate bars, it has been reported.

A rise of around seven per cent will take place on some of the companies’ bestselling bars, including Cadbury’s Dairy Milk and Wispa, and Nestle’s Kit Kat and Yorkie, the Grocer reports.

In 2007, when the economic downturn hit, prices were hiked for the first time.

There will be a 3p rise in Dairy Milk prices, meaning the bar is 30 per cent more expensive than it was three years ago.

“My worry is that chocolate is becoming a luxury item rather than an affordable treat,” one wholesaler told the news provider. “We are beginning to reach the point now where people consider small bars to be expensive and we are seeing sales through independents declining.”

“We have taken the decision to increase prices because of economic factors including ingredient costs,” said a Cadbury spokesman.

He denied Kraft Foods’ hostile takeover of the confectioner, which took place in February this year, has led to the rise in prices.

Source: Ingredients Network

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